<strong>Bank of Canada Expected to Raise Key Rate by Another 50 Bps to Guide Inflation Lower</strong>
–Canada’s Consumer Inflation Has Eased but Remains High Just Under 7% –BOC Seeking Balance Between Cooling Demand and Avoiding Sharp Downturn By Max Sato (MaceNews) – The Bank of Canada is set to conduct what could be one of its last rate hikes in the current tightening cycle in three weeks, possibly raising its short-term […]
Cleveland Fed’s Mester: Funds Rate ‘Only Beginning to Become Restrictive’
– Funds Rate Must Become ‘More Restrictive’; Stay So “for a While’ – Risks Of Tightening Too Little Outweigh Risks Of Tightening Too Much – Welcomes Oct. CPI Report But Warns of ‘Upside Risks,’ Wage Pressures – Reducing Inflation Will Mean ‘Pain’; Unemployment May Need Rise More Than Anticipated By Steven K. Beckner (MaceNews) – […]
Fed Officials Stress Importance of Keeping Inflation Expectations Anchored
– Williams Says Inflation Expectations ‘Mostly Good’ But Cites Increased Uncertainty – Barkin: More Tightening Likely Needed Even at Cost of ‘Downturn’ By Steven K. Beckner (MaceNews) – Two Federal Reserve officials stressed the importance of keeping inflation expectations “anchored” Wednesday, but suggested that those expectations may be vulnerable to being underrmined in the current […]
BOJ October Meeting Summary: Keep Easing Stance for 2% Inflation; Watch Markets, Side Effects of Easing
By Max Sato (MaceNews) – Bank of Japan board members agreed that the bank should maintain its easing stance to ensure stable 2% inflation would be achieved with wage increases — even though high import costs are being aggravated by the weak yen, which partly reflects the BOJ’s dovish stance while the Federal Reserve plans […]
White House and Other Schedules for Thursday, Nov 3
WASHINGTON (MaceNews) – The following are Thursday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR THURSDAY, NOVEMBER 3, 2022 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. After, the […]
FOMC Lifts FFR 75 BP to 3.75-4.0%; Projects More Rate Hikes
Powell Says Slower Pace of Hikes Could Come in Next Two Meetings But Powell Says Rates May Have To Go Higher Than Projected in September And Powell Says It’s ‘Very Premature’ To Talk About Pausing Rate Hikes Also Warns Against ‘Mistake’ Of Loosening Monetary Policy ‘Prematurely’ FOMC Says Funds Rate Needs To Get ‘Sufficiently Restrictive’ […]
TRANSCRIPT: Federal Reserve Chair Powell’s Q&A Session Following FOMC Meeting
WASHINGTON (MaceNews) – The following is the transcript of Federal Reserve Chair Jerome Powell’s Wednesday news conference following the latest Federal Open Market Committee meeting: JEROME POWELL: Price stability is the responsibility of the federal reserve and serves as the bed rock of our economy. PRESS MEMBER: Thank you. Colby Smith with the Financial Times […]
FOMC Hikes 75 BPS As Expected; Adds Language to Anticipate Stance ‘Sufficiently’ Restrictive
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday hiked the federal funds rates another 75 basis points as widely expected, adding language in the policy statement that highlights the need to reach a stance that is sufficiently restrictive allowing for lags in policy effects. The decision prompted an immediate improvement in U.S. stocks and […]
White House and Other Schedules for Wednesday, Nov 2
WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR WEDNESDAY, NOVEMBER 2, 2022 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In the afternoon, […]
Analysis: FOMC Set for Fourth 75 BP Rate Hike But What Comes Next?
– Even After Another Big Hike Real Funds Rate Will Be Negative – Mixed Signals About How High Fed Willing to Go to Fight inflation By Steven K. Beckner (MaceNews) – The Federal Reserve will almost certainly take another fairly aggressive monetary tightening step at its Federal Open Market Committee meeting next week, but its interest rate hike […]